Accelerant (NYSE:ARX) Hits New 1-Year High – What’s Next?

Accelerant Holdings (NYSE:ARX)’s share price hit a new 52-week high during trading on Tuesday. The company traded as high as $19.90 and last traded at $19.8850, with a volume of 350,577 shares. The stock had previously closed at $19.88.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup downgraded shares of Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday, August 13th. William Blair downgraded Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday, August 13th. TD Cowen downgraded Accelerant from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $20.25 in a research note on Wednesday, September 30th. Piper Sandler downgraded shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price objective for the company. in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.98.

Accelerant Price Performance

The stock has a 50 day moving average of $19.79 and a two-hundred day moving average of $15.16. The stock has a market cap of $4.32 billion, a PE ratio of -2.99 and a beta of 0.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53.

Accelerant (NYSE:ARX) last posted its earnings results on Thursday, August 13th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. The firm had revenue of $303.90 million for the quarter. Equities analysts anticipate that Accelerant Holdings will post 0.90 EPS for the current year.

Insider Buying and Selling

In other news, Director Nancy Hasley sold 20,489 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $19.56, for a total transaction of $400,764.84. Following the transaction, the director owned 1,341,834 shares of the company’s stock, valued at $26,246,273.04. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 66.59% of the company’s stock.

Institutional Trading of Accelerant

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Accelerant in the third quarter valued at approximately $26,000. State of Wyoming bought a new stake in Accelerant during the first quarter worth $28,000. GAMMA Investing LLC grew its position in Accelerant by 998.8% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $35,000 after acquiring an additional 1,598 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Accelerant by 543.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock valued at $37,000 after purchasing an additional 1,592 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Accelerant during the 3rd quarter valued at $38,000.

Accelerant Company Profile

Accelerant is a data-driven risk exchange focused on the specialty insurance market. Its platform connects independent specialty insurance underwriters, including managing general agents, with insurance capacity providers seeking access to specialized risks. The company provides technology, data and analytics tools to support underwriting and help its members evaluate and manage insurance portfolios. Through the exchange, underwriters can access capacity, while insurers and other risk-bearing partners can connect with specialist underwriting expertise.